OneMain (NYSE:OMF) Shares Gap Down - Here's Why

OneMain Holdings, Inc. (NYSE:OMF - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $57.39, but opened at $55.50. OneMain shares last traded at $55.76, with a volume of 203,985 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OMF. Wells Fargo & Company increased their price target on OneMain from $52.00 to $57.00 and gave the company an "equal weight" rating in a report on Tuesday, January 21st. Compass Point raised their price target on shares of OneMain from $60.00 to $63.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Royal Bank of Canada upped their price target on shares of OneMain from $62.00 to $65.00 and gave the company an "outperform" rating in a report on Monday. StockNews.com upgraded shares of OneMain from a "hold" rating to a "buy" rating in a research note on Monday. Finally, Stephens reissued an "overweight" rating and issued a $62.00 price objective on shares of OneMain in a report on Monday. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $57.15.

OneMain Stock Up 0.7 %

The company has a 50 day moving average price of $54.74 and a 200-day moving average price of $50.87. The company has a market cap of $6.55 billion, a P/E ratio of 12.95, a PEG ratio of 0.48 and a beta of 1.59.

OneMain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Wednesday, February 12th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.16 annualized dividend and a dividend yield of 7.58%. OneMain's dividend payout ratio is currently 98.11%.

Insider Buying and Selling

In related news, CEO Douglas H. Shulman sold 20,000 shares of OneMain stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $54.19, for a total transaction of $1,083,800.00. Following the completion of the sale, the chief executive officer now owns 392,474 shares of the company's stock, valued at approximately $21,268,166.06. This trade represents a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.45% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Legend Financial Advisors Inc. bought a new stake in OneMain in the fourth quarter valued at about $26,000. FNY Investment Advisers LLC acquired a new position in shares of OneMain in the 4th quarter worth approximately $26,000. Albion Financial Group UT bought a new position in OneMain in the 4th quarter valued at $26,000. Continuum Advisory LLC acquired a new position in OneMain in the third quarter worth $28,000. Finally, IFP Advisors Inc grew its holdings in shares of OneMain by 180.0% during the fourth quarter. IFP Advisors Inc now owns 770 shares of the financial services provider's stock worth $40,000 after purchasing an additional 495 shares during the last quarter. Institutional investors own 85.82% of the company's stock.

About OneMain

OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses in the United States. It originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or unsecured. The company also offers credit cards; optional credit insurance products, including life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans.